Cornwall Council join campaign to help our towns
Cornwall Council join campaign to help our towns. The Council is supporting a proposal from Local Works to use the Sustainable Communities Act to force the Government to consider introducing powers to apply an additional business rate levy on large retailers. The proposal would mirror the move already made by the Northern Ireland Assembly where legislation has been passed and has enabled them to help 8,000 small and medium sized business by reducing their business rates. If introduced in England then local councils would have the power to charge a levy on large retail stores, such as a 8.5% levy on retail outlets with a rateable value above £500,000. This would bring much needed revenue to the Council without any significant impact on the large retailers profits.
“Applying the Northern Ireland model for the additional business rate levy on large retailers in Cornwall would have the potential to raise an additional income of approximately £3m each year” said Jeremy Rowe, LibDem Cabinet Member for Devolution and Localism. “This could bring a real boost to help smaller businesses and help our high streets. It’s early days in exploring whether this could be achieved here, but we are minded to back Local Works and make a case to Government under the Sustainable Communities Act once there is the level of support required from other councils.”